San Diego credit unions announce plans to merge
Another financial institution merger is officially in the works as California Coast Credit Union and San Diego County Credit Union announced plans to merge on April 11.
There will be no immediate change for members as both organizations will operate independently until the legal date of the merger. The expected legal date of the merger is early 2026, with full systems integration extending into 2027.
If approved, however, the combined credit union would have assets totaling nearly $13.5 billion, 65 branch locations, and more than 1,400 employees serving members in Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura counties.
Moreover, the organization will remain the fourth-largest credit union in the state and become the 16th-largest in the nation. Also, no jobs will be lost as a result of the merger.
“This merger creates a partnership between two large service-oriented and financially strong credit unions with deep, rich histories throughout Southern California,” said Teresa Campbell, president and CEO of SDCCU.
“Together, we can offer members, employees, and the communities we serve access through expanded branches and ATMs, plus a stronger, more resilient organization that is ready and able to embrace the evolving financial services landscape.”
Todd Lane, president and CEO of Cal Coast, added “Together, our joint strengths position us to achieve greater success and provide even greater opportunity to expand our community impact.”
